上交所：精准对接和支持 中小微企业融资需求

Core Insights - The issuance of the "Hua'an-Xingtai Leasing-Data Asset Supporting Intellectual Property ABS" marks the first data asset-backed securities (ABS) product aimed at supporting innovation-driven enterprises in industrial parks, with a coupon rate of 1.86% [1] - The Shanghai Stock Exchange (SSE) has supported Xingtai Holdings in issuing a total of 5 ABS products, amounting to 1.783 billion yuan, targeting various enterprises including small and medium-sized enterprises (SMEs) and technology firms [1][2] - The "Xingtai Model" leverages data empowerment to create risk profiles for enterprises, enhancing the credibility of investments in ABS products [2][3] Group 1: ABS Product Development - The ABS products developed by Xingtai Holdings effectively activate diverse existing assets across financing leasing, commercial factoring, micro-loans, and financing guarantees [2] - The ABS products are designed to provide a comprehensive risk control model for debtors, utilizing a "Research Value Score" to help investors assess repayment capabilities [2][3] - The knowledge property ABS products have facilitated financing for nearly 100 technology firms, converting over 270 high-value patents into financial resources [4] Group 2: Market Impact and Future Prospects - The ABS "Xingtai Model" is seen as a significant tool for cultivating new productive forces in Hefei and serves as an effective channel for capital market support for local development [5] - The SSE's initiatives align with the broader financial strategy to enhance technology finance, green finance, and inclusive finance, contributing to high-quality economic development [6][7] - The ongoing evolution and replication of the ABS "Xingtai Model" are expected to enable more enterprises to utilize asset securitization tools to revitalize existing assets and attract low-cost capital for real economy development [7]